Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


SumUp announces latest successful €10 m funding round
Investors including BBVA Ventures and Groupon take total raised to €50 million


London - August 27th, 2015

SumUp, Europe’s leading mPOS company, today announced a new €10 million injection by investors including BBVA Ventures and Groupon. American Express and other current investors also participated in the funding round. This takes SumUp’s funding so far to a total of €50 million, and follows the recent investment by Swiss venture capital firm Venture Incubator AG.

SumUp plans to use this investment in 3 ways:

to expand into new markets. SumUp plans to launch in 2 more countries this year, increasing its’ country footprint to 15 and covering three continents.
to enhance SumUp’s technology leadership position by rolling out the new contactless generation of its end-to-end payment platform. This encompasses a proprietary and certified payments gateway as well as in-house hardware and operations systems.
to support the development of new services.

Daniel Klein, CEO of SumUp, said: 'We are delighted to have received 2 major investments within less than 2 months. With strong partners such as BBVA Ventures, Groupon and American Express, we are now better equipped than ever to execute on our vision of empowering small businesses all over the world by radically simplifying payments. We can’t wait to offer our solution to even more merchants soon by launching the in new markets later this year.”

Jay Reinemann, Executive Director, BBVA Ventures, adds: “We’re pleased to offer further support to SumUp, who are shaking up mobile payments and creating opportunities for both merchants and customers. They fit the profile of businesses BBVA Ventures wants to invest in and learn from - those disrupting the mainstream for the benefit of the consumer.”

- ENDS -

About SumUp

SumUp is the leading mobile point-of-sale (mPOS) company in Europe and is set to empower the world to accept card payments.

With SumUp, merchants can accept credit and debit cards, using their smartphones or tablets, in a simple, secure and cost-effective way. SumUp's mobile card acceptance solution is built on proprietary end-to-end EMV payment technology, terminal hardware, and mobile applications. SumUp only charges a fee of 1.95% per card transaction in the UK.

The company is authorised as a Payment Institution by the Financial Conduct Authority (FCA) and is Europay, MasterCard, and Visa (EMV) and PCI-DSS certified, ensuring that payments are processed in accordance with the highest security standards. Launched in August 2012, SumUp has expanded into 13 countries, including the UK, Germany and Brazil.

More information: https://sumup.com

About BBVA Ventures

BBVA Ventures’ mission is to fund and support the most innovative companies in financial services. BBVA Ventures operates through the Group’s representative office in San Francisco. Since launching in 2013, BBVA Ventures has invested in companies such as Personal Capital, Taulia, DocuSign, SumUp and venture funds Ribbit Capital and 500 Startups.


Publisher Contact Information:

SumUp
-
-

Company profile of SumUp
Past press releases of SumUp .

Data


23,670
Tech investments
From our Online Data Service
15,288
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 15€1.3MBiotechnology
Dec 11€10.0MOther Biotechnology & Healthcare
Dec 11N/ABusiness applications
Dec 11N/AEnergy related
Dec 11€11.0MOther Biotechnology & Healthcare
Dec 11€4.3MBiopharmaceuticals
Dec 10€2.3MOther Software

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Aug 17
Komed Health
komed health closes seed financing round

Jul 10
Komed Health
komed health to be supported by nokia and deutsche telekom

May 4
Vivet Therapeutics
vivet therapeutics raises €37.5 million in series a

Apr 5
Fliit
logistik-start-up fliit sammelt 1.5 millionen bei seed-finanzierung...

Jan 24
Spendesk
in addition to online payments, spendesk is now tackling travel exp...





About usContact usLegal Information
Copyright © 1999-2017
Emerging Technology Research Europe Inc. All rights reserved.